A Wall Street sign is seen outside the entrance of the New York Stock Exchange in New York City's financial district, Aug. 13, 2015. Photo: Reuters/Brendan McDermid

U.S. stocks traded mostly flat Friday as investors turned their attention from China to the Federal Reserve. With two more economic indicators released Friday, market professionals are searching for further hints as to when the central bank plans on raising rates this year.

Meanwhile, the pan-European Stoxx 600 index closed flat Friday, losing 2.6 percent for the week amid the Greek government approving a new 85 billion euro ($94 billion) bailout agreement. The deal is expected to be cleared by eurozone finance ministers Friday, and will face a vote from the German parliament next week.

Separately, U.S. consumer sentiment edged mildly lower in August for a second month with the declines reflecting households are preparing for the expected increases in interest rates. The University of Michigan's Consumer Sentiment Index came in at 92.9 this month, lower than the previous month's reading of 93.1 and below forecasts for 93.5.

"Renewed strength in personal finances largely offset slight declines in prospects for the national economy and buying conditions," said Surveys of Consumers Chief Economist Richard Curtin in a statement.

But after the solid increase in retail sales in July, economists say this level of confidence among consumers still suggests strength in sales will continue. “This should help to ease any concerns that outlook for consumption growth has weakened recently,” Adam Collins, assistant economist at Capital Economics, said in a note Friday.